One must understand the audience to whom Mr. Archibald writes his Birmingham News OpEds.
They’re the same ones who found hometown favorite criminal Richard Scrushy – monikered as “America’s First Oblivious CEO” – “Not Guilty” of violating the Sarbanes-Oxley Act, who to date, remains the solitary individual ever charged with its violation. Alice Martin, then Federal Prosecutor for the Northern District of Alabama, who failed to obtain a guilty verdict in the case, could have moved the trial to New York City – home of Wall Street – or “in Washington, D.C., or in New York City where pecuniary intricacies are understood,” but rather chose Birmingham, Alabama as the trial venue. John C. Coffee, professor of securities law at Columbia Law School, accurately said of the case, that “much of the information was over their heads” and jurors were “sick of trying to understand evidence that was beyond them.”
This remark – right, or wrong (but mostly right) – remains true for Alabama:
Citizens in the state are “largely poor, uneducated, and easy to command.”
In context of course, historically, one should recognize Read the rest of this entry »